The Wisconsin LGBT Chamber of Commerce and the Greater Madison Chamber of Commerce announced today they are taking steps to try to change an SEC rule that affects LGBT investors.

Rule 501 of Regulation D prevents individuals in civil unions, domestic partnerships and similar relationships from combining wealth to earn accredited investor status.

“Discrimination of any kind impedes growth,” Greater Madison Chamber of Commerce President Zach Brandon said in a statement. “This simple revision sends the right message. Whether you are a startup investor or a founder, your financial investment will be treated equally under the law.”

In a letter to U.S. Rep. Mark Pocan, the chambers suggest the following new language:

A spouse of a natural person shall mean another person, regardless of gender or sexual orientation, whose relationship with the person specified: (1) may be characterized as such person’s (i) husband, (ii) wife, (iii) spouse, (iv) domestic partner, or (v) designated beneficiary under any applicable state law for the purpose of ensuring that each person in a two-person relationship has certain rights or financial protections based upon such designation; or (2) is that of the other party to a civil union with such person.